SOURCE/DOUBLE BRANDING
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Source or double branding strategy combines the firm’s name with the product brand name. It is the hybrid of umbrella brand and product brand strategy. The product is given a brand name and is combined with the name of the firm.
For example, Chetak is the name of the scooter and Bajaj is the company behind it, the brand accordingly becomes Bajaj Chetak.
Both names are given equal status and enjoy equal importance in the brand’s communication. Firms that follow double branding include Maruti(Maruti 800, Maruti Zen, Maruti Baleno), Bajaj (Bajaj sapphire, Bajaj pulsar), etc.
Source branding by combining a firm’s name with product name seeks to achieve two objectives. First, the firm’s name brings its equity to the product. The product stands to benefit from what the company has been able to cultivate in terms of awareness expertise, attribute and reputation associations. When Bajaj name is added to a new brand like Legend, immediately Bajaj’s, and repertoire of associations are transferred onto one product. Secondly, the second name, the name of the product (e.g. Legend) provides the chance to add something unique to the brand the brand. This is an opportunity for customization and personalization. That is, the brand can stand for something over and above what Bajaj stands for. The brand can acquire its own image in the broad framework of corporate image. This way the brand can reach new consumer groups or market segments.
Double branding is somewhat an extension of the umbrella strategy. Each brand tends to share something common- the identity and image of the source company behind the brands.
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